Tax refunds feel great — but only if you file on time to actually get them. For most salaried people, the ITR deadline for 2026-27 is 31st July 2026. Miss it, and you'll owe a late fee of up to ₹5,000 — and your refund gets stuck in a longer queue.
If you run a business or have income from freelancing, your deadline is 31st October 2026 (or 30th November if your accounts need an audit).
These dates don't move. The income tax portal does get slow around the deadline — filing early means less stress and faster refunds.
What this means for you
- Salaried? Mark 31st July — that's your hard cutoff, and it's about 10 weeks away.
- A late filing fee of ₹5,000 (or ₹1,000 if your income is under ₹5 lakh) is charged automatically — no warning, no grace period.
- Filing early also means your TDS refund (the tax your employer already deducted from your salary and that the government owes you back) lands in your account faster — sometimes within 2–3 weeks of filing.
What you can do
- Pull your Form 16 from your employer — this is a one-page certificate your company gives you every year that shows exactly how much tax was deducted from your salary. Most employers share it by mid-June. File as soon as you have it, don't wait for July.
- Freelancer or side-income earner? Collect all your bank statements and invoices now so you're not scrambling in October.
Filing taxes isn't fun, but a ₹5,000 penalty for a 20-minute task is a bad trade — do it early and forget about it.
Grow with clarity 🌱